Downtown Retailers to Reap Huge Benefits from
New Community Would Pump $410 Million a Year into Downtown Coffers
August 12, 2010 05:44 PM Eastern Daylight Time
REDWOOD CITY, Calif.--(EON: Enhanced Online News)--Merchants across downtown Redwood City would
reap hundreds of millions of dollars in added sales each year from the building of a new, transit-oriented community
at the Saltworks site. The Saltworks, with its 30,000 residents, will provide the “missing link” in the economic chain
for downtown and create a significant and permanent economic boost for flagging downtown businesses.
A recent study by EPS, an economic planning firm based in Oakland, estimated that the Saltworks project would
generate $410 million in new retail spending in and around Redwood City, about four times the current amount of
downtown spending each year.
Redwood City has designated the downtown corridor as the core of a revitalized shopping and entertainment district
for the city. Just a half mile away from downtown, the Saltworks community will be connected to downtown via a
permanent, direct transit link. That means downtown merchants will enjoy an outsized portion of the new spending
from the community, a welcome and permanent expansion in the economic base for shop and restaurant owners.
“Location, location, location is the cry of retail planning experts,” said Jim Musbach, a principal in the EPS firm. “If
you put 25,000 new people just one-half a mile away from downtown the experts say those downtown businesses
will reap a disproportionate percentage of the benefits from the increased purchases.”
Downtown merchants in Redwood City welcomed news of the economic stimulus.
"Businesses bring business,” said Rey Garza, owner of Sweetcakes in the downtown shopping district. “The
Saltworks project will create a tremendously positive impact in Downtown Redwood City."
Downtown merchants have struggled in recent years as a result of the economic slide and competition from